India-UK free trade agreement set to boost bilateral trade by 15% annually: CareEdge report

A recent report by CareEdge highlights the potential economic uplift from the impending India-UK free trade agreement, projecting an annual 15% increase in bilateral trade. The agreement is designed to bolster economic cooperation between the two nations, fostering a more dynamic exchange of goods and services. This development marks a significant step in strengthening the economic ties that have long connected India and the UK. Under the terms of the agreement, India will reduce tariffs on a range of British goods, making it easier and more cost-effective for UK businesses to access the Indian market. This tariff reduction is expected to benefit various sectors, including automotive, technology, and pharmaceuticals, thereby enhancing the competitiveness of British exports in India. Conversely, the UK will eliminate tariffs on Indian products, opening new avenues for Indian exporters to expand their presence in the UK. This move is anticipated to particularly benefit India's textile, agriculture, and manufacturing industries. As both countries gear up to implement the agreement, the expected trade surge promises to create new opportunities for businesses and consumers alike, reinforcing the robust economic partnership between India and the UK.

— Authored by Next24 Live